CT Pass-Through Entity Tax (New for 2018)
Posted by JCB on Jan 7, 2019 in Advice The state of CT passed a “new” tax on small business entities (S corps and Partnership returns) starting in 2018. Prior to this tax, the entity would give the owner(s) a K-1 and then the owner(s) would pay the CT income tax when the personal tax return was filed. The new tax mandates the entity to pay the tax on the income. Connecticut will then give that owner credit for the tax...read more